USD/JPY counter trend trade
The U/J made already a long move down and I am anticipating a correction move coming soon.
If the downtrend line on 1H basis can be broken by price, I would wait for a retest of that trend line and if successful enter long.
If the downtrend line on 1H basis can be broken by price, I would wait for a retest of that trend line and if successful enter long.
Note
Price actually broke the 1H Trendline and gave a nice Long entry on the retest.Since the overall trend is down I would exit the position soon or move the stop very close.
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